Mutual of America Capital Management LLC boosted its position in Arconic Inc (NYSE:ARNC) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,471 shares of the basic materials company’s stock after acquiring an additional 5,396 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Arconic were worth $1,566,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in ARNC. Huntington National Bank acquired a new stake in Arconic in the third quarter valued at approximately $132,000. Fox Run Management L.L.C. acquired a new stake in Arconic in the fourth quarter valued at approximately $205,000. UMB Bank N A MO acquired a new stake in Arconic in the fourth quarter valued at approximately $212,000. National Planning Corp acquired a new stake in Arconic in the third quarter valued at approximately $206,000. Finally, Pitcairn Co. acquired a new stake in Arconic in the third quarter valued at approximately $209,000. 74.55% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. Cowen restated a “hold” rating and issued a $25.00 target price on shares of Arconic in a research report on Thursday, February 1st. Morgan Stanley restated a “hold” rating and issued a $27.00 target price on shares of Arconic in a research report on Tuesday, October 24th. Seaport Global Securities restated a “buy” rating and issued a $32.00 target price on shares of Arconic in a research report on Tuesday, February 6th. Deutsche Bank set a $31.00 target price on shares of Arconic and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Vetr lowered shares of Arconic from a “buy” rating to a “hold” rating and set a $27.97 target price on the stock. in a research report on Monday, October 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $29.77.
Arconic (NYSE:ARNC) last issued its quarterly earnings results on Monday, February 5th. The basic materials company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.08 billion. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. Arconic’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. research analysts forecast that Arconic Inc will post 1.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, February 25th. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.94%. Arconic’s dividend payout ratio (DPR) is presently -92.31%.
In other Arconic news, Director David P. Hess purchased 40,300 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were bought at an average price of $24.80 per share, for a total transaction of $999,440.00. Following the completion of the acquisition, the director now owns 127,870 shares in the company, valued at $3,171,176. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.12% of the stock is currently owned by insiders.
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Arconic Company Profile
Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.
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